Stock Yards Bank & Trust Co. Has $11.36 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Stock Yards Bank & Trust Co. lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 58.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,488 shares of the semiconductor company’s stock after selling 75,953 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Analog Devices were worth $11,364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Grove Bank & Trust raised its position in shares of Analog Devices by 3.1% during the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after buying an additional 43 shares in the last quarter. Quotient Wealth Partners LLC lifted its stake in Analog Devices by 2.5% during the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 48 shares during the last quarter. Bank of Hawaii increased its position in shares of Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 48 shares during the last quarter. MONECO Advisors LLC lifted its position in Analog Devices by 2.8% in the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after buying an additional 50 shares during the last quarter. Finally, DT Investment Partners LLC grew its position in Analog Devices by 0.7% during the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after acquiring an additional 51 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ADI. Morgan Stanley cut their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Barclays reduced their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company started coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Piper Sandler reduced their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Finally, Truist Financial lifted their price target on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

Analog Devices Price Performance

Shares of ADI stock opened at $211.89 on Monday. The business’s fifty day moving average is $216.43 and its 200 day moving average is $221.27. The stock has a market cap of $105.12 billion, a price-to-earnings ratio of 64.40, a PEG ratio of 2.41 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm posted $2.01 earnings per share. Analog Devices’s quarterly revenue was down 10.1% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.74%. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.